The compound of the formula (I), wherein R.sup.1 and R.sup.2 are hydroxy and a represents a single bond, 12-hydroxy-13-hydroxymethyl-3,5,7-trimethyltetradeca-2,4-dien-1,14-dioic acid 12,14-lactone, was identified as an antibiotic fungal metabolite in 1970 [Aldridge et al., Chem. Comm., 1970, p. 639]. The compounds of the formula (I), wherein R.sup.1 is methoxy and R.sup.2 is hydroxy and the tetrahydro analog wherein R.sup.1 and R.sup.2 are hydroxy were disclosed in the structure elucidation of the compound of the formula (I) wherein R.sup.1 and R.sup.2 are hydroxy [Aldridge et al. J. Chem. Soc. (C), 1971, pp. 3888-3891].
Additionally, co-pending patent application Ser. No. 856,316, filed Apr. 28, 1986 is directed to the antihypercholesterolemic utility of these known compounds and co-pending patent application Ser. No. 021,848, filed Mar. 4, 1987 discloses novel .beta.-lactone derivatives and their antihypercholesterolemic utility.